Advanced Nitrox, Decompression Procedures and Advanced Spearfishing would be the proper courses to take. Find a technical instructor that seriously participates in spearfishing, not cave or wreck only. Equipment is best suited to the specialized needs of the sport.
It's a common misconception that spearfishers are always darting around and overexerting. At least the good ones are not.
Jonnythan,
Assuming one of my fresh, well inspected LP hoses still blew, a switch to my second primary, followed by an immediate shutdown of the bad side of the valve, would be in order. Then assess the gas supply and ascend to recreational depths at least. The depth and time of the dive and terrain of the site will dictate if the hunt is over. (Although solo was the planned dive mode, it's possible my buddy might have heard the failure and may be investigating.) If terminating the dive, the tank may be good for another shallower drop later in the day.
Since this dive is borderline ER, especially by spearing standards, the narcosis level is managable for a calm, experienced diver. A lean nitrox would be a sufficient mix.
Chad